Pay Protect

Protection You Can Count On

Pay Protect is a unique product that not only pays off credit card dues in the unfortunate event of your accidental death or if you are diagnosed with a critical illness but additionally pays your loved ones an equivalent amount to help meet their financial needs.

Involuntary Loss of Employment

A monthly benefit equivalent to 10% of your outstanding card balance for up to 12 months, subject to a maximum of AED 5000 per month.

Critical Illness

Pay-off your outstanding Mashreq Bank credit card account balance up to a maximum of AED 50,000 if you are diagnosed with a critical illness. Additionally, you will receive an equivalent benefit up to a maximum limit of AED 50,000.

Terminal Illness

Pay-off 50% of outstanding Mashreq Bank credit card account balance up to a maximum of AED 25,000.

Death due to accident

Pay-off your outstanding Mashreq Bank credit card account balance up to a maximum of AED 50,000 in the event of your accidental demise. Additionally, your legal heirs will receive an equivalent benefit up to a maximum limit of AED 50,000.

Simple 3 Step Claim Process

In case you need to file a claim, please follow the steps below or dial 04 424 4444 within 30 days of the event to seek assistance:

Fill the Pay Protect claim form
Download PDF
Attach the required documents
Submit at the nearest Mashreq branch
Terms & Conditions

Disclaimer: Mashreq Bank PSC is acting as a distributor for Pay Protect and shall not be responsible for the insurance company's actions or decisions nor shall Mashreq Bank PSC be liable regarding payment of claims under the policy/Insurance contract issued by Oman Insurance Co. The insurance feature of Smart Assure, Pay Protect, Pay Protect Lite (“Product”) is being provided by Oman Insurance Co. PSC (“OIC”) pursuant to terms and conditions of the insurance policy (“Insurance Policy”) found on this page. It must be noted that the Insurance Policy relating to this Product may be amended by OIC from time to time. The customer understands and acknowledges that any amendment or modification to the Insurance Policy will be updated on this page without further notice to the customer. The customer hereby confirms that it shall be its duty to be informed of the contents of the Insurance Policy (including any amendments thereof) at all times by visiting this page. For all intents and purposes, nothing contained on this page or Mashreqbank’s website and/or the Insurance Policy shall be deemed to create an agency, joint venture, amalgamation, partnership between Mashreqbank psc and OIC. OIC shall be solely responsible for any and all claims by the customer under the Insurance Policy and payout of any claims to the customer shall at all times be subject to the terms of the Insurance Policy provided by OIC, over which Mashreq exercise no control whatsoever.

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